Main Functions of Retail Banking
Deposits : Retail banks accept deposits from individuals, providing a safe place to store money while offering interest.
Loans : They provide various loan products for personal needs, such as housing, education, and vehicle purchases.
Payments and Transfers : Retail banks facilitate transactions, including fund transfers, bill payments, and card payments.
Wealth Management : Some retail banks offer financial planning and investment advisory services to help individuals grow their wealth.
